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Wednesday, July 17, 2024

New foreign investment approvals soar in HCMC in Jan-Feb

The Saigon Times

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HCMC – Fresh foreign direct investment approvals in HCMC in the first two months of 2023 totaled US$332.3 million, up 43.1% year-on-year, showed data from the HCMC Statistics Office.

During the two-month period, 101 projects were approved from the city, with total registered capital of US$97.7 million, up 22.8% in value against the year-ago period, the local media reported.

These projects were mainly active in the construction, auto and motorcycle retail and repair, science-technology and processing fields.

Singapore was the biggest foreign investor in the city, with 23 projects registering total capital of US$76.6 million, followed by South Korea with nine projects.

Between January and February, US$47.6 million was added by 29 operational projects in the city. South Korea had the highest adjusted capital at US$16.4 million in the first two months of the year, accounting for 34.4% of the total added capital.

The January-February period saw 275 foreign investors contribute capital and buy shares with a total value of US$187 million, up 16% year-on-year.

As of February 20, the city had over 11,440 operational foreign-invested projects with total adjusted and newly-pledged capital of US$56.3 billion while having seen 24,565 foreign investors conduct procedures to contribute capital to and purchase shares at local firms with a total of US$23.9 billion.

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